January 5, 2023

7 Steps to Successful Home Buying this 2023!

Is buying a house on your to-do list this 2023? We love helping our clients turn their dreams of homeownership into a reality!

It’s essential to develop good habits right away, so you’re ready when the right home comes along. Here are seven steps you can take right now to help ensure you don’t hit any roadblocks during your home-buying journey.

Step One

Your Finances

Getting your finances in order is the very first thing you need to do before you can consider buying a home. Start with these tips:

Open a “new home savings” account and start making deposits
Start paying down your debts and avoid opening any new credit accounts
Resolve to pay all of your monthly bills on time
Write down your budget and stick to it
Check your credit report and make sure it’s accurate

Each of these things takes time. The sooner you start, the better shape you’ll be in when you find your new home.

Step Two

Save for a Rainy Day

Get a better idea of whether you’ll be able to afford the home you want by pretending your bills have already gone up. Set the extra money aside each month to have an emergency fund saved before you buy a home.

Step Three

Set Realistic Expectations for a Successful Home Buy

Shopping for a home will be much more productive (and more fun!) if you have a clear idea of your goals. Make a list of all the features you want in a home and any that you don’t. This will help keep you from wasting time looking at places that aren’t right for you.

While it’s OK to make a “dream home” list, make sure you’re realistic about your “must-haves.” Trying to buy a champagne house on a bottled water budget will only lead to disappointment.

Step Four

Get a Great Agent

Whether you’re a first-time or experienced home buyer, working with a great real estate agent can have a considerable impact on a successful home buy. It’s essential to be picky about who you choose. Ask for recommendations from friends and family, check references, and read reviews before committing to a contract.

Step Five

Give Yourself Plenty of Time

Buying a home is a huge commitment. The last thing you want is to jump into something without thinking it through or feel pressured to buy something that’s not quite right. Make sure this doesn’t happen to you by leaving yourself plenty of time to explore your options.

Homes come on and off the market, so plan to set aside some time every week for home shopping. Visit open houses to have a good idea of what types of homes are currently available on the market.

Step Six

Be Prepared for a Successful Home Buy

The housing market moves fast, and if you’re not ready, you could miss out on your perfect home. Ensure you’re prepared by shopping for a mortgage ahead of time and making sure you’re pre-approved. Organize your tax and financial documents so you’re ready when it’s time to submit your mortgage application.

Step Seven

Be Flexible

While it’s great to have an idea of the type of home you want, don’t be too rigid about it. If you’re willing to have an open mind, you might find that the perfect home wasn’t what you expected. Going with the flow and being flexible is a key components to a successful home buy.